contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


sanoma-q425-preview-guidance-for-the-current-year-sets-the-direction

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Co. Head of Research

Petri Gostowski

Sanoma is an innovative and agile learning and media company with two business segments: Learning and Media Finland. Learning's educational products and services reach 25 million students in K-12 education in 12 European countries. Media Finland has Finland's leading multichannel media offering (digital and print newspapers, magazines, TV and streaming services, and radio and audio services), through which it reaches 97% of Finns every week, enabling effective marketing solutions for corporate clients. The company's operations have a positive impact on the lives of millions of people every day.

Here are Petri’s preview comments as Sanoma is set to release its Q4 report on Wednesday  In connection with the earnings report, the main focus will be on the guidance for the current year, which should support forecasts expecting robust earnings growth. Due to this and seasonality, the Q4 figures will play a secondary role on the earnings day.                   Inderes              Sanoma Q4'25 -ennakko: Kuluvan vuoden ohjeistus määrittää suunnan - Inderes    Tulosraportoinnin yhteydessä päähuomio kohdistuu kuluvan vuoden ohjeistukseen, jonka tulisi tarjota katetta reipasta tuloskasvua odottaville ennusteille.

Petri has likely updated Sanoma’s company report from Torstaikalle.  We have reviewed our forecasts following Sanoma’s Capital Markets Day and updated financial targets. Our forecasts were also well-aligned with the current targets, and the forecast changes we made were primarily focused on Media Finland’s medium-term forecasts, which are affected by the expected opening of the gambling advertising market presumably during 2027. In our view, the stock’s valuation is attractive relative to the earnings growth we forecast for the coming years, so we are raising our recommendation to the Buy level (prev. Accumulate) and reiterating our target price of EUR 11.3. Quoted from the report: The strongest earnings growth will be in 2026, when we expect Learning’s revenue growth and a clear improvement in profitability to raise its result to a new level. Even after the clear improvement in profitability, we expect Learning’s revenue growth to keep it in clear earnings growth. Regarding Media Finland, we expect a slight improvement in operational efficiency in its historical fashion, but we forecast clear growth in its earnings level in 2028, when gambling advertising brings high-margin growth throughout the year. Our 2028e forecast includes roughly EUR 16 million in growth in ad sales (incl. other advertising growth), so our forecast is conservative relative to the company’s target level. This is due to forecast risks currently related to market size and the company’s market position.                   Inderes              Sanoma: Tuloskasvun kiihdytyksen kynnyksellä - Inderes    Olemme tarkastelleet ennusteitamme Sanoman pääomamarkkinapäivän ja päivitettyjen taloudellisten tavoitteiden seurauksena.

Here is an analysis of Sanoma from Juho Toratti.  Many still perceive Sanoma as a media company, even though today its traditional newspapers and multimedia services account for a minority of the group’s business operations. The main focus is instead on the learning business. Subheadings:  Sanoma’s financial targets Sanoma Group’s dividend in 2026 Sanoma’s Q3 results Sanoma’s share – An investor’s perspective Sanoma’s growth accelerates in 2026 Sanoma’s forecasts and valuation metrics   Note. IR-ikkuna is a channel for corporate partners of SalkunRakentaja and Sijoittaja.fi for background and analytical articles, as well as other interesting investor information. The article is part of a commercial collaboration with the company. The article does not contain investment recommendations.                   SalkunRakentaja – 10 Dec 25              Sanomalta odotetaan vahvaa tuloskasvua vuodelle 2026    Sanoman liiketoiminnan pääpaino on defensiivisissä oppimisratkaisuissa. Yhtiön odotetaan kasvavan kannattavasti lähitulevaisuudessa juuri Learning-segmentin ajamana.

Here are Petri’s comments on Sanoma rearranging its financing again.  With the new EUR 220 million loan agreement, the company will repay two old loans, which was in line with our expectations and, in our assessment, will reduce its net financing costs.                   Inderes              Sanoma järjestelee rahoitustaan - Inderes    Uudella 220 MEUR:n lainasopimuksella yhtiö odotetusti maksaa takaisin kaksi vanhaa lainaa.

Pelilisenssit.fi – 27 Nov 25              Sanoma Oyj: Suomen rahapelijärjestelmän uudistuksessa jättimäinen...    Sanoma Oyj ennustaa rahapelimarkkinan vapautumisen tuovan yli 20 miljoonan euron lisäyksen mainosmyyntiin vuodessa. Lisenssijärjestelmän avautuminen voi nostaa rahapelialan markkinointibudjetit jopa 200 miljoonaan euroon – ja suomalaiset mediatalot...                             Sanoma Oyj estimates that the liberalization of the Finnish gambling market to a licensing system in 2027 will bring a significant earnings boost to the company. At its Capital Markets Day, Sanoma stated that it expects an increase of over 20 million euros in Sanoma Media Finland’s annual advertising sales, which would directly impact the company’s profitability.

Juho Toratti has also written about Sanoma and its CMD.  Subheadings:  Sanoma’s Capital Markets Day Growth expected to be driven by the learning business Media Finland market seen stabilizing – growth from gambling advertising New financial targets Sanoma pays annually growing dividends Sanoma’s stock falling on CMD day Investor’s perspective Sanoma’s expectations rise, but valuation declines   NOTE. IR Window is a channel for corporate partners of SalkunRakentaja and Sijoittaja.fi for background and analytical articles, as well as other interesting investor information. The article is part of a commercial collaboration with the company. The article does not contain investment recommendations. analysisIR Windowstocks                   Sijoittaja.fi – 28 Nov 25              Sanoma pääomamarkkinapäivä: Kasvu on strategiakauden 2026-2030 keskiössä    Sanoma järjesti pääomamarkkinapäivän tiistaina 25.11. Yhtiö tavoittelee strategiakaudella 2026-2030 kasvua oppimisliiketoiminnan vetämänä.

Here are Aapeli’s comments on Sanoma’s Capital Markets Day.  Sanoma held a Capital Markets Day (CMD) on Tuesday. In the day’s presentations, the company provided more background on its updated financial targets and presented an overview of its business operations. The recording of the CMD can be viewed here.                   Inderes              Sanoman pääomamarkkinapäivä: Learning kasvun lähteenä - Inderes    Päivän esityksissä yhtiö taustoitti tarkemmin päivitettyjä taloudellisia tavoitteitaan sekä esitteli läpileikkauksen liiketoimintoihinsa.

Sanoma

In connection with the earnings report, the main focus will be on guidance for the current year, which should support forecasts predicting robust earnings growth.

<p><em><strong>Translation: Original published in Finnish on 2/9/2026 at 8:13 am EET.</strong></em></p> <div class="table-wrapper"><table> <tbody> <tr> <td>Estimates</td> <td> </td> <td>Q4'24</td> <td>Q4'25</td> <td>Q4'25e</td> <td>Q4'25e</td> <td colspan="3">Consensus</td> <td>2025e</td> </tr> <tr> <td>MEUR/EUR</td> <td> </td> <td>Comparison</td> <td>Realized</td> <td>Inderes</td> <td>Consensus</td> <td>High</td> <td> </td> <td>Low</td> <td>Inderes</td> </tr> <tr> <td>Revenue</td> <td> </td> <td align="right">241</td> <td> </td> <td align="right">227</td> <td align="right">233</td> <td align="right">231</td> <td>-</td> <td align="right">235</td> <td align="right">1304</td> </tr> <tr> <td>EBIT (adj.)</td> <td> </td> <td align="right">-27</td> <td> </td> <td align="right">-28</td> <td align="right">-27</td> <td align="right">-29</td> <td>-</td> <td align="right">-25</td> <td align="right">188</td> </tr> <tr> <td>EBIT</td> <td> </td> <td align="right">-47</td> <td> </td> <td align="right">-39...</td></tr></tbody></table></div>

	2024	25e	26e
Revenue	1,344.7	1,304.2	1,302.6
growth-%	-3.5 %	-3.0 %	-0.1 %
EBIT (adj.)	180.0	188.0	179.5
EBIT-% (adj.)	13.4 %	14.4 %	13.8 %
EPS (adj.)	0.74	0.77	0.76
Dividend	0.39	0.42	0.43
Dividend %	5.1 %	4.4 %	4.5 %
P/E (adj.)	10.4	12.4	12.7
EV/EBITDA	6.0	6.5	6.2

Sanoma Q4'25 preview: Guidance for the current year sets the direction

Key Estimate Figures06.02

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